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Which of the following statements best sums up the nature of reported profit? A. Accounting standards have narrowed the range of choice of accounting policies but it is still possible for different choices to have a material effect on reported profits. B. All companies results are now fully comparable as differences in accounting policies cannot exist between companies. C. It is not possible to compare companies results in a meaningful way. D. Accounting standards have narrowed the range of choice of accounting policies to the extent where no material difference between profits is possible. |